Canaccord Genuity Group Boosts Celestica (NYSE:CLS) Price Target to $240.00

Key Points

• Canaccord Genuity Group has raised Celestica's price target from $126.00 to $240.00, indicating a potential upside of 18.96% from its current price.
• Celestica has seen a 16.4% increase in its stock price recently, with its current price opening at $201.74 on the day of the report.
• Currently, 67.38% of Celestica's stock is held by institutional investors, showcasing strong interest and confidence in the company's prospects.

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its price objective lifted by equities researchers at Canaccord Genuity Group from $126.00 to $240.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's target price suggests a potential upside of 22.71% from the stock's current price.

CLS has been the subject of a number of other reports. Argus dropped their price target on shares of Celestica from $150.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. CIBC cut their target price on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 15th. BNP Paribas upgraded Celestica to a "strong-buy" rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lifted their price objective on Celestica from $115.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $120.00 price objective on shares of Celestica in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $168.92.

Celestica Trading Down 2.1%

Shares of Celestica stock traded down $4.28 during trading hours on Wednesday, hitting $195.58. The company's stock had a trading volume of 777,563 shares, compared to its average volume of 4,429,119. The stock has a market cap of $22.49 billion, a price-to-earnings ratio of 42.24 and a beta of 1.81. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.85 and a current ratio of 1.44. Celestica has a twelve month low of $40.25 and a twelve month high of $214.47. The firm has a fifty day moving average of $144.61 and a 200-day moving average of $115.31.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC boosted its position in shares of Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company's stock worth $162,000 after acquiring an additional 90 shares in the last quarter. Freedom Investment Management Inc. grew its stake in Celestica by 1.5% during the 1st quarter. Freedom Investment Management Inc. now owns 6,360 shares of the technology company's stock worth $501,000 after buying an additional 96 shares during the last quarter. Wolff Wiese Magana LLC increased its position in Celestica by 45.6% during the second quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company's stock worth $57,000 after buying an additional 114 shares during the period. First National Bank of Hutchinson increased its holdings in shares of Celestica by 2.5% in the 1st quarter. First National Bank of Hutchinson now owns 4,914 shares of the technology company's stock valued at $387,000 after acquiring an additional 120 shares during the period. Finally, Private Trust Co. NA raised its position in Celestica by 14.1% in the 1st quarter. Private Trust Co. NA now owns 993 shares of the technology company's stock valued at $78,000 after purchasing an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.